The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The National Insurance Board (NIB) yesterday said it has paid-out more than $500,000 in the first tranche of help for self-employed persons in the tourism sector hit by the COVID-19 pandemic.

The social security system, in a statement, disclosed: “The National Insurance Board (NIB) is pleased to advise that it has made the first tranche of payments on Friday, April 3, to recipients of the government’s Unemployment Assistance Programme for self-employed persons in the tourism sector impacted by the COVID-19 shutdown in the amount of $555,893.66.

“Payments in the amount of $440,006.20 were made to 1,192 people via direct deposit. Additionally, cheques were being run for 302 people totalling $115,88. NIB advised that where the recipient is in receipt of a pension, the weekly amount is deducted so that no more than $200 per week is paid to the individual for income support.”

K Peter Turnquest, deputy prime minister, said self-employed persons in the tourism sector left without work by the COVID-19 pandemic fall-out will receive a $200 per week benefit for as long as The Bahamas’ national COVID-19 lockdown lasts. That period is currently due to expire on April 8.

Marlon Johnson, the Ministry of Finance’s acting financial secretary, said the first tranche of payments covered two weeks or $400 per person.

NIB added: “As at Thursday, April 2, NIB had received some 2,666 applications for the programme - 1,494 were approved, and 943 were denied due to insufficient documentation. The remainder is still being processed.

“The majority of applicants supplied banking details to facilitate direct deposit payments. Persons who have had their applications denied can reapply by attaching the necessary documents to the e-mail notification received and their applications can be reconsidered.”

“On Tuesday, April 7, NIB will open its application process to other self-employed persons outside of the tourism sector who were impacted by the mandated shut down. These persons will need to be registered with NIB and have a valid business licence.”